Strands Finance Suite

Strands Finance Suite is a suite of AI-powered software solutions designed to assist banks and financial institutions in enhancing their digital banking offerings and providing personalized financial management experiences to their customers. This suite is intended for banks and financial institutions of various sizes, from small regional banks to large multinational institutions. According to the vendor, professionals and industries such as retail banking, SME banking, wealth management, financial institutions, and fintech companies can benefit from the advanced features and capabilities offered by Strands Finance Suite.

Key Features

Personal Finance Management (PFM): According to the vendor, Strands PFM offers users a comprehensive view of their financial situation by aggregating and categorizing all their accounts in one place.

Budgeting and goal setting: The vendor claims that users can set personalized budgets and savings goals, track their progress, and receive alerts and recommendations to assist them in staying on track.

Spending analysis: Strands PFM automatically categorizes transactions and provides users with detailed insights into their spending habits, enabling them to identify areas for improvement and make more informed financial decisions, as per the vendor.

Cash flow forecasting: According to the vendor, users can access accurate cash flow projections based on their income and expenses, aiding them in effective financial planning and management.

Business Finance Management (BFM): Strands BFM provides SMEs with a real-time comprehensive view of their business finances, including cash flow, revenue, and expenses, as claimed by the vendor.

Invoice management: The vendor states that users can create, send, and track invoices directly within the platform, streamlining the invoicing process and improving cash flow management.

Vendor and expense management: Strands BFM allows businesses to track and categorize their expenses, manage vendor relationships, and generate reports for better financial analysis, according to the vendor.

Tax management: The vendor asserts that users can easily calculate and manage their tax obligations, ensuring compliance and avoiding any penalties.

Engager: According to the vendor, Engager utilizes AI and machine learning algorithms to analyze user data and provide personalized recommendations for financial products and services, such as loans, credit cards, and investment opportunities.

Data Enrichment: Strands' data enrichment capabilities ensure accurate categorization and enrichment of transaction data, providing users with more detailed and meaningful insights into their financial activities, according to the vendor.